The Impact of Connectivity on the Production and Diffusion of Knowledge

Gustavo Manso and Farzad Pourbabaee

Papers from arXiv.org

Abstract: We study a social bandit problem featuring production and diffusion of knowledge. While higher connectivity enhances knowledge diffusion, it may reduce knowledge production as agents shy away from experimentation with new ideas and free ride on the observation of other agents. As a result, under some conditions, greater connectivity can lead to homogeneity and lower social welfare.

Date: 2022-02
New Economics Papers: this item is included in nep-knm, nep-net and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2202.00729

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